RE:Has anyone Read the Bill ?? Canada publicized that it had ordered the divestiture of investments by three foreign investors in Canadian critical minerals companies specialized in lithium. The orders followed the review of the investments under the national security review provisions of the ICA. At least two of the investments to be divested are in lithium mining companies headquartered in Canada but with operations primarily outside Canada. While the outcome of a national security review is highly fact-specific, it is clear that foreign investments in Canadian critical minerals companies whose assets are based outside of Canada can be blocked on national security grounds. In the related statement, the ISED Minister emphasized the government's interest in attracting foreign direct investments from partners with similar interests and values to Canada.
The Government of Canada also released the Investment Canada Act 2021-22 Annual Report